Simply Good Foods CoSMPL
Simply Good Foods Co Segments Disclosure
Segment and Customer Information
Segment Information
The Company's operations are organized into two operating segments, Quest and Atkins, and OWYN, which are aggregated into one reportable segment due to similar financial, economic and operating characteristics. The operating segments are similar in the following areas: (a) the nature of the products; (b) the nature of the production processes; (c) the methods used to distribute products to customers; (d) the type of customer for the products; and, (e) the nature of the regulatory environment. The Company also designed its organizational structure to support entity-wide business functions across brands, products, customers, and geographic regions. As a result, as of the fifty-two weeks ended August 30, 2025, and fifty-three weeks ended August 31, 2024, the Company determined its operations are organized into two operating segments, which are aggregated into one reportable segment, represented by the Company’s consolidated financial statements, due to similar financial, economic and operating characteristics. As of the fifty-two weeks ended August 26, 2023, the Company determined its operations were organized into one consolidated operating segment and reportable segment.
The Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer (“CEO”). The CODM regularly reviews consolidated segment performance including net sales, significant expenses, net income, Adjusted EBITDA, budget to actual variance analysis, as well as other key metrics. The CODM uses net income as the measure of profitability to assess segment performance and allocate resources. The accounting policies of the segment are the same as those described in Note 2, Summary of Significant Accounting Policies.
The following table summarizes our segment net sales, significant expenses, and net income for the fifty-two weeks ended August 30, 2025, fifty-three weeks ended August 31, 2024, and fifty-two weeks ended August 26, 2023:
| 52-Weeks Ended | 53-Weeks Ended | 52-Weeks Ended | ||||||||||||||||||
| August 30, 2025 | August 31, 2024 | August 26, 2023 | ||||||||||||||||||
| Net sales | $ | 1,450,920 | $ | 1,331,321 | $ | 1,242,672 | ||||||||||||||
| Cost of goods sold | 925,173 | 819,755 | 789,252 | |||||||||||||||||
| Operating expenses: | ||||||||||||||||||||
| Selling and marketing | 134,282 | 143,929 | 119,489 | |||||||||||||||||
| General and administrative | 155,930 | 129,699 | 111,566 | |||||||||||||||||
| Depreciation and amortization | 16,900 | 16,917 | 17,416 | |||||||||||||||||
| Business transaction costs | 820 | 14,524 | — | |||||||||||||||||
| Loss on impairment | 60,928 | — | — | |||||||||||||||||
| Other income (expense) | (20,984) | (20,447) | (29,257) | |||||||||||||||||
| Income tax expense | 32,289 | 46,741 | 42,117 | |||||||||||||||||
| Net income | $ | 103,614 | $ | 139,309 | $ | 133,575 | ||||||||||||||
Geographic Information
The following is a summary of revenue disaggregated by geographic area and brand:
| 52-Weeks Ended | 53-Weeks Ended | 52-Weeks Ended | ||||||||||||||||||
| (In thousands) | August 30, 2025 | August 31, 2024 | August 26, 2023 | |||||||||||||||||
North America (1) | ||||||||||||||||||||
| Atkins | $ | 420,787 | $ | 491,986 | $ | 526,769 | ||||||||||||||
| Quest | 863,614 | 777,394 | 682,789 | |||||||||||||||||
| OWYN | 137,020 | 29,213 | — | |||||||||||||||||
| Total North America | 1,421,421 | 1,298,593 | 1,209,558 | |||||||||||||||||
International (1) | 29,499 | 32,728 | 33,114 | |||||||||||||||||
| Total | $ | 1,450,920 | $ | 1,331,321 | $ | 1,242,672 | ||||||||||||||
(1) The North America geographic area consists of net sales substantially related to the United States and there is no individual foreign country to which more than 10% of the Company’s net sales are attributed or that is otherwise deemed individually material. | ||||||||||||||||||||
The following is a summary of long lived assets by geographic area:
| (In thousands) | August 30, 2025 | August 31, 2024 | ||||||||||||
| Long lived assets | ||||||||||||||
North America (1) | $ | 39,738 | $ | 24,830 | ||||||||||
| Total | $ | 39,738 | $ | 24,830 | ||||||||||
(1) The North America geographic area consists of long-lived assets substantially related to the United States and there is no individual foreign country in which more than 10% of the Company’s long-lived assets are located or that is otherwise deemed individually material. | ||||||||||||||
Significant Customers
Credit risk for the Company was concentrated in two customers who each comprised more than 10% of the Company’s total sales for the fifty-two weeks ended August 30, 2025, fifty-three weeks ended August 31, 2024, and fifty-two weeks ended August 26, 2023:
| 52-Weeks Ended | 53-Weeks Ended | 52-Weeks Ended | ||||||||||||||||||
| August 30, 2025 | August 31, 2024 | August 26, 2023 | ||||||||||||||||||
| Customer 1 | 31 | % | 31 | % | 31 | % | ||||||||||||||
| Customer 2 | 18 | % | 18 | % | 16 | % | ||||||||||||||
At August 30, 2025, and August 31, 2024, the following amounts of the Company’s accounts receivable, net were related to these significant customers for the periods in which the customers were significant:
| (In thousands) | August 30, 2025 | August 31, 2024 | ||||||||||||||||||||||||
| Customer 1 | $ | 60,151 | 36 | % | $ | 41,943 | 28 | % | ||||||||||||||||||
| Customer 2 | $ | 46,225 | 28 | % | $ | 51,411 | 34 | % | ||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Oct 28, 2025 | Showing above |
| 2024 | Oct 29, 2024 | |
| 2023 | Oct 24, 2023 | |
| 2022 | Oct 21, 2022 | |
| 2021 | Oct 26, 2021 | |
| 2020 | Oct 28, 2020 | |
| 2019 | Oct 30, 2019 | |
| 2018 | Oct 24, 2018 | |
| 2017 | Nov 9, 2017 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.